Sterling Capital Management LLC reduced its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,064 shares of the company's stock after selling 3,532 shares during the quarter. Sterling Capital Management LLC's holdings in Philip Morris International were worth $5,062,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Heritage Trust Co purchased a new stake in Philip Morris International during the fourth quarter valued at about $740,000. Jaffetilchin Investment Partners LLC increased its stake in Philip Morris International by 6.8% during the 4th quarter. Jaffetilchin Investment Partners LLC now owns 15,297 shares of the company's stock worth $1,841,000 after buying an additional 970 shares during the period. Argent Trust Co lifted its stake in shares of Philip Morris International by 4.1% in the fourth quarter. Argent Trust Co now owns 60,764 shares of the company's stock worth $7,313,000 after acquiring an additional 2,408 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in shares of Philip Morris International by 0.8% during the 4th quarter. Treasurer of the State of North Carolina now owns 716,633 shares of the company's stock valued at $86,247,000 after buying an additional 5,494 shares during the last quarter. Finally, Legacy Financial Advisors Inc. grew its holdings in Philip Morris International by 18.4% during the 4th quarter. Legacy Financial Advisors Inc. now owns 8,832 shares of the company's stock worth $1,063,000 after acquiring an additional 1,375 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on PM shares. StockNews.com cut shares of Philip Morris International from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Stifel Nicolaus raised their price target on Philip Morris International from $160.00 to $168.00 and gave the company a "buy" rating in a report on Thursday. Barclays increased their price target on Philip Morris International from $145.00 to $175.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. raised their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Finally, Morgan Stanley initiated coverage on shares of Philip Morris International in a report on Thursday, January 16th. They issued an "overweight" rating and a $140.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $145.44.
Read Our Latest Stock Report on Philip Morris International
Philip Morris International Trading Up 2.4 %
NYSE PM traded up $3.63 during trading on Monday, reaching $157.52. The company's stock had a trading volume of 5,904,290 shares, compared to its average volume of 5,570,942. The stock has a market capitalization of $245.18 billion, a PE ratio of 34.93, a PEG ratio of 2.65 and a beta of 0.46. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $163.08. The business has a 50-day moving average price of $152.56 and a 200-day moving average price of $134.99.
Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.55 earnings per share for the quarter, topping analysts' consensus estimates of $1.49 by $0.06. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. As a group, analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.
Philip Morris International Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th were given a $1.35 dividend. The ex-dividend date was Thursday, March 20th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.43%. Philip Morris International's dividend payout ratio is currently 119.73%.
Insider Buying and Selling at Philip Morris International
In other Philip Morris International news, Chairman Andre Calantzopoulos sold 40,643 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $149.06, for a total value of $6,058,245.58. Following the sale, the chairman now directly owns 561,349 shares in the company, valued at $83,674,681.94. This represents a 6.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Reginaldo Dobrowolski sold 5,000 shares of Philip Morris International stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $149.88, for a total value of $749,400.00. Following the transaction, the vice president now directly owns 20,799 shares of the company's stock, valued at approximately $3,117,354.12. The trade was a 19.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 131,822 shares of company stock valued at $19,655,585 in the last 90 days. 0.13% of the stock is currently owned by company insiders.
Philip Morris International Profile
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Free Report)
Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.
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